Kuwaiti oil price down 12 cents to USD 48.68 pb

KUWAIT, Aug 29 (KUNA) -- The price of the Kuwaiti oil dropped by 12 cents to settle at USD 48.68 per barrel (pb) Monday compared with USD 48.80 pb last Friday, said Kuwait Petroleum Corporation (KPC) Tuesday.
At the global level, oil prices were down due to data showing a decline in US crude oil as Hurricane Harvey is wreaking havoc in the Gulf of Mexico. The storm affected 19 percent of US oil operations and production.
The price of the West Texas Intermediate's future contracts for September delivery went down by USD 1.30 to reach USD 46.57 per barrel, the same case for the Brent crude's future contracts for October delivery, which went down 52 cents to reach USD 51.89 pb. (end) aam.nhq